Courting the next generation: How wealth managers are keeping family business assets within the bank

Singaporean banks and wealth managers are focusing on the children of their affluent clients as a way to foster long-term relationships with these families. UBS leads the charge in this effort, offering leadership and personal development programs for the next generation of wealthy heirs. UBS's Conrad Huber, head of global wealth management for Indonesia and Japan, believes that banks can establish stronger connections with these heirs when both parents and their children are banking with the same institution.

Singaporean banks DBS, UOB, and OCBC have been hosting three- to four-day programs throughout the summer for affluent and high-net-worth families. UOB's PriviGen 2026, held at the Grand Hyatt Singapore, drew 63 second-generation young people aged 18 to 25, who participated in interactive sessions on financial literacy, entrepreneurship, and leadership. UOB's head of group personal financial services, Jacquelyn Tan, says these programs empower young adults with the skills they need to face future challenges.

Among the expert speakers at UOB's sessions was SMU associate professor of finance, Mandy Tham, who noted that such programs connect young adults with experienced professionals and their peers, making the learning experience more tangible. Kenneth Yeow, 19, a participant at UOB, said the personal branding workshop taught him how to build his professional image and communicate effectively with others.

This will be crucial as he prepares to grow his family's agricultural business, which he hopes to expand beyond Malaysia and Singapore.

OCBC's GENesis program, now in its third year, has brought together 27 young adults aged 18 to 25 from Hong Kong, Singapore, Malaysia, and Indonesia. OCBC's head of segment Susan Tan says the program is designed to prepare these young adults for greater responsibilities, whether they lead the family business, start new ventures, or make well-informed financial decisions. The participants engage in a personal development workshop to discover their strengths, leadership styles, and areas for growth.

By participating in these exclusive programs, the next generation of wealthy heirs can learn essential skills, build cross-border friendships, and develop the trust and judgment needed to navigate complex business situations, regardless of whether they choose to lead their family's business or pursue other career paths.